IPA BROKERS $32M SALE OF TAMPA APARTMENT COMMUNITY

TAMPA, FLA. — Institutional Property Advisors (IPA) has arranged the $32 million sale of Bristol Place Apartments of Tampa Palms, a 340-unit apartment community located at 15210 Amberly Drive in Tampa. The property is part of the master-planned Tampa Palms, a 5,400-acre community featuring apartments, single-family homes, restaurants, churches, offices, recreational facilities, schools and shops. Bristol Place features a resort-style pool, gazebo-covered spa, gas grilling area, separate lap pool, tennis court, car wash area, playground, clubhouse, fitness center and indoor racquetball court. Each unit features a built-in entertainment center, Roman-style soaker tubs, washer/dryer, glass showers, French doors, private balcony/patio and a security monitoring system. Jamie May of IPA represented the seller, AVR Realty Co., in the transaction. Preston Giuliano Capital Partners was the buyer.